Is Good Credit Worth the Effort?

One of the biggest hurdles that you’ll ever face once you’ve had a credit setback is not what you think it might be… It’s not that no one will give you credit because you have bad credit.  It’s not that you have to find other ways to pay for things because you can’t get credit.  It’s not even that your credit is keeping you from getting the job, the car, or the home that you want.  Those things might be a problem, but they are not the biggest problem.

The biggest problem that you’ll face when your credit score hits rock bottom is convincing yourself that it is worth the time and the effort that it takes to recover from bad credit.  That’s right, the biggest hurdle you’ll face is the one within.  You see, when your credit score really tanks, you start to think that you will never be able to get it back up to where you’ll need it to be if you ever want to be able to buy another car, get a different apartment, buy a house, or even change jobs because your credit is so low.

And, standing at the bottom looking up, it really does seem like an impossible task.  So, you start to wonder, “Why bother?  I’ll never get my credit score back on track.  Never be able to get another credit card.  Never be able to buy a new car at a decent interest rate.  Never get that house.  So why even bother trying?”   Sound familiar?  I’d almost be that everyone who has ever had their credit score bottom out has felt that way at one time or another.  And they are right to an extent – it would be far easier to simply give up and accept that your credit is bad and that it is going to take some time and effort to rebuild your score.  But has the fact that something is going to take a little time and effort ever really stopped anyone who has ever really wanted something?  No, it hasn’t.  And that’s why you cannot give up on your credit score.

Ask yourself these questions:

  • How bad do you want that new car?
  • How bad do you want that house?
  • How bad do you want that dream job?

And now, ask yourself this, how hard are you willing to work for it?

Just like anything else that you really want, rebuilding your credit takes work.  Sometimes it will be hard work, other times not so hard.  But you will find that, if you start right now, TODAY, and you work as diligently at improving your credit score as you do at every other thing in your life that really means something to you, you will get there.

You will rebuild your credit score.  But you cannot do that unless you actually begin.  Now.  Today.

Get A Credit Card to help build Your Credit score

Have you had poor credit in the past? Made a few mistakes, wish you’d done things a bit differently?

Well, all is not lost — you can rebuild your credit just like you lost it. It’s simple, and if you’re disciplined, it’s quick and almost painless.

First, what is a Credit Card? The normal procedure is that you deposit an amount of money into a savings account which is in turn security for the Credit Card you apply for. Then, you can use the credit card just as though it were a “normal” (unsecured) card, and when you make your payments on time, you are building your new credit history. It’s a good idea to use this card for regular expenses that you’d normally pay cash for; then using that cash to pay the credit card bill. This shows the credit card issuer that you are responsible and can pay your bills on time. It obviously takes a bit of self-discipline to do this, however; if you’re not good with handling money that may present a problem for you. But practise, as in all things, makes perfect.

Generally, you will find there are application fees and other fees not usually associated with regular credit cards when you try to get a secured credit card.

Some secured credit card programs will allow you to deposit additional monies into your security savings account, thereby increasing your credit limit. Check before applying for a credit card on this. Again, read the fine print! It’s important.

Many institutions, after a period of having made all your payments on time, will release your security deposit to you, thus graduating your card to an unsecured status. Congratulations if this happens to you!

You can build your credit even faster by getting more than one secured card at a time; just make sure that you stagger your opening of these accounts by a month or so each, otherwise you may run the risk of being rejected, and thus harming your credit score again.

After you’ve established credit using a credit card, you will most likely start to notice the amount of low APR credit card deals being offered to you. Make sure you read the fine print, as always, and carefully choose which offers you sign up for.

Different banks and credit card companies have differing amounts that they are willing to allow you to secure; and they all have different procedures, get the one most suited to you.

About the Author: Peter Carville
“You can rebuild your credit just like you lost it. It’s simple, and if you’re disciplined, it’s quick and almost painless. ”

Review & Apply for a Credit Card designed to improve your credit score through one of our secure links!